ADA

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0052%/8h= +5.7% APRnext payment +$0.07 per $10,000 · paid last 24h +0.009%

Price spread now: Backpack against Coinbase International+0.228%7-day average +0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$370.371% of the position

Long on Coinbase International Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$1 on $10k

Price spread, last 3 days (all we have)−0.224%−$22 · spread now +0.228%, 7d avg +0.025%

Together, before fees−0.239%−$24 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Backpack is 0.203% dearer against Coinbase International than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of +0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ADA-PERP-INTX	0.2459	0.0048	pay 0.0006% / 1h	27m 47s	$401K	$7.4M	50x
Short	Backpack ADA_USDC_PERP	0.2465	0.0100	get 0.0013% / 1h	27m 47s	$126K	$422K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee BackpackbpOrdersPrice spread, now +0.228%Rate

Funding earned: $10.92
Price spread: +0.228% → +0.025%: $20.26
Slippage, 4 orders: −$17.06
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$5.88
Costs to cover: 0.371%
Break-even: 10.8 days

Slippage from Coinbase International: live order book, 1 min ago; Backpack: live order book, 41 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Coinbase International live order book, 1 min ago	4.07 bp	10.7 bp −$11	18.5 bp −$185	doesn't fit	doesn't fit
Sell Backpack live order book, 41 min ago	0.81 bp	6.6 bp −$7	9.6 bp −$96	doesn't fit	doesn't fit

ADA on 36 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX ADA-USD	0.0000%	1h	0.2455	−0.150%	$202K	$3K	10x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2460	+0.058%	$84K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	+0.488%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTXlong	+0.0048%	1h	0.2459	long leg	$401K	$7.4M	50x
Hyperliquid ADA	+0.0100%	1h	0.2467	+0.333%	$43.0M	$14.4M	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2466	+0.274%	$1.2M	$970K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2458	−0.060%	$159K	$156K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2466	+0.285%	$103.2M	$373.6M	75x	as long as short
Bybit ADAUSDT	+0.0100%	8h	0.2465	+0.244%	$72.5M	$108.9M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2468	+0.366%	$32.7M	$108.3M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ADA_USDT	+0.0100%	8h	0.2464	+0.203%	$98.2M	$59.8M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2465	+0.244%	$49.6M	$51.5M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2465	+0.252%	$30.1M	$17.6M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2466	+0.285%	$66.0M	$47.0M	75x	as long as short
BingX ADA-USDT	+0.0100%	8h	0.2465	+0.244%	—	$20.4M	—	as long as short
Backpack ADA_USDC_PERPshort	+0.0100%	1h	0.2465	+0.228%	$126K	$422K	15x
Variational Omni ADA	+0.0100%	8h	0.2452	−0.280%	$4.2M	$991K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2453	−0.243%	$65K	$284K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2451	−0.336%	$289K	$3.8M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2451	−0.325%	$56K	$587K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2459	−0.012%	$93K	$665K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2461	+0.081%	$6K	$27K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2463	+0.157%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2460	+0.038%	$9K	$769K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2463	+0.163%	$339	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2460	+0.041%	$1.3M	$5.8M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2462	+0.122%	$47.9M	$6.4M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2465	+0.239%	$535K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0105%	8h	0.2459	+0.006%	$21K	$250	20x	as long as short
Kalshi KXADAPERP	+0.0112%	8h	0.2463	+0.163%	$149K	$6.3M	3.2x	as long as short
Phoenix ADA	+0.0163%	1h	0.2457	−0.073%	$4K	$87K	10x	as long as short
Lighter ADA	+0.0192%	1h	0.2468	+0.362%	$2.5M	$1.0M	10x	as long as short
Reya ADARUSDPERP	+0.0281%	1h	0.2459	+0.001%	$1K	—	15x	as long as short
Kraken Futures PF_ADAUSD	+0.0353%	1h	0.2463	+0.157%	$6.2M	$12.1M	50x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0416% / S −0.0202%	1h	0.2460	+0.059%	$95K	—	100x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0562%	1h	0.2464	+0.195%	$504K	$471K	50x	as long as short